News By Edition

Valuation Review Edition

January 2, 2012

In the January 2, 2012, edition of Vaulation Review, the appraisers respond to blame from different corners of the mortgage industry. The Wall Street Journal, the National Association of Realtors and the National Association of Home Builders, all pointed the finger at the appraisal industry for "low appraisals" and improper use of distressed and foreclosed sales, but appraiser spoke out through Valuation Review. Also in thi sedition, REOs poised for growth in 2012, appraiser associations petition the CFPB and the pros and cons of HARP revisions.

October Research, publisher of Valuation Review, and presenting sponsor
ResWare teamed up to produce the third annual State of the Industry Report,
October Research's most requested special report each year.

Fannie Mae announced Chief Executive Officer Michael Williams’ decision to step
down. He will continue as CEO and as a director until Fannie Mae’s board of
directors names a successor, at which time he will leave the company.

Mortgage technology provider SharperLending LLC is pleased to announce that its
Appraisal Firewall product has been confirmed by Veros Real Estate Solutions as
operationally ready for successful submission to the Uniform Collateral Data
Portal.

A year-over-year national price decrease in 2011 of 2.1 percent and forecast of
a slight 0.2 percent gain in 2012 was reported by Clear Capital. Read on for a
look at the numbers from the point of view of the local markets, not the
year-overview big picture that shows a 'flat' market.

It’s 2012, and while we’re still a couple years away from flying cars, vacations to the moon and underwater bubble cities that hasn’t stopped the techies in
the Valuation Review R&D department from coming up with some very
cool, very futuristic stuff for our readers this year.

While mortgage delinquencies at the end of November 2011 were nearly 25 percent
less than the January 2010 peak, the trend toward fewer loans becoming
delinquent, which dominated 2010 and the first quarter of 2011, appears to have
halted.

a la mode announced that its founder and sole shareholder, Dave
Biggers, is retiring from the company’s day-to-day management and a new
chief executive officer and executive chairman team will be running the
company.

The positive indicators keep coming from the National Association of Realtors. The real estate association is reporting that its Pending Home Sales
Index — an indicator based on contract signings — is at its highest level in 19
months.

Valuation Partners, a national appraisal management company, hired a new vice president and national account executive who brings more than 25 years of appraisal, mortgage banking and settlement services experience to
Valuation Partners.

Global DMS announced that Nationwide Property & Appraisal Services has integrated its Global Kinex appraisal review and delivery technology as the foundation of its proprietary software to ensure full compliance with the Uniform Collateral Data Portal (UCDP) program. Read on for the details.

InHouse Inc. is successfully integrating lenders and appraisal management companies to the Uniform Collateral Data Portal in a matter of a few weeks, and without the long-term contract. Read on for the details.

ACI integrated StreetLinks Lender Solutions with ACI's eServices, an appraisal delivery service to help ensure compliance with client/lender and investor requirements. Read on for the integration details.

Production of new single-family homes and apartments rose 9.3 percent to a seasonally adjusted annual rate of 685,000 units in November, according to figures released by the U.S. Commerce Department. This marks the fastest pace of housing starts since October of 2008. Read on for more details.

The New Year is approaching and appraisers across the country are making resolutions to improve their valuation services, increase their industry awareness and support the profession. Here are a few resolutions that our valued appraiser readership shared with Valuation Review.

The NAHB maintains that appraisal values for land and subdivisions under development have led some financial institutions to stop lending to developers and builders, and makes them a contributing factor to the acquisition, development and construction crisis. Everyone in the real estate industry would agree that it's time to turn things around, but the appraisal industry does not agree that there is an "appraisal issue."

A spokesperson from RealtyTrac discussed the 2011 foreclosure data with Valuation Review recently, and the latest numbers from November further illustrate his point. Even though there was a 3 percent month-over-month decrease in filings and a 14 percent year over year drop, RealtyTrac believes this all equates to a renewed foreclosure wave in 2012.

The Appraisal Foundation is released a free video on its website entitled, An Introduction to Green Buildings and Their Valuation. It is divided into five sections and includes simultaneous PowerPoint presentations as well as audience questions and answers. Read on to check out the video.

The Nevada attorney general filed a complaint against LPS for engaging in deceptive practices against Nevada consumers. LPS strongly disputes the allegations and released its own statement on the situation. Read on for thoughts from both sides.

Take our current Poll

Do you think the inclusion of more AMCs to appraiser organizations would be a benefit or not? Why?

They would add valueThey would detract from the organizationThere would be little difference